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AIG may join bailout suit against U.S. government

Posted By admin On January 8, 2013 @ 10:15 am In Money Watch | Comments Disabled

Reuters [1]
Jan 8, 2013

American International Group Inc, the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, may now join a lawsuit against the government alleging the terms of the deal were unfair.

The news prompted a swift reaction from one of AIG’s rescuers, with the Federal Reserve Bank of New York saying the insurer could have just as well chosen bankruptcy four years ago and wiped shareholders out entirely.

The move would be something of a shock development given that AIG just launched a high-profile television ad campaign called “Thank you, America,” in which it offers the public its gratitude for the bailout.

At the same time, Chief Executive Bob Benmosche has complained that the company and its management have not gotten enough credit for avoiding a collapse, turning the business around and returning to profitability.

Full article here [1]

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URLs in this post:

[1] Reuters: http://www.reuters.com/article/2013/01/08/us-aig-lawsuit-government-idUSBRE9070GR20130108

[2] Intervention Alert – Here Comes The Bailout Bailout: European Cental Banks Gobbling Up Portuguese, Irish And Greek Government Bonds: http://www.prisonplanet.com/intervention-alert-here-comes-the-bailout-bailout-european-cental-banks-gobbling-up-portuguese-irish-and-greek-government-bonds.html

[3] Greg Palast: The Romney’s Extorted Millions from Auto Bailout: http://www.prisonplanet.com/greg-palast-the-romneys-extorted-millions-from-auto-bailout.html

[4] Monsanto to receive huge government bailout from European Union: http://www.prisonplanet.com/monsanto-to-receive-huge-government-bailout-from-european-union.html

[5] Government Bailout Profit a Myth, Says Merrill Lynch Economist: http://www.prisonplanet.com/government-bailout-profit-a-myth-says-merrill-lynch-economist.html

[6] Government to Grant AIG New, Larger Bailout: http://www.prisonplanet.com/government-to-grant-aig-new-larger-bailout.html

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